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Question
Vikram bought 200 shares of Rs 25 each of 'Calcutta Jute Co.' paying 8% of dividend. Vikram bought them at such a price that he gets 10% of his money. At what price did he buy the share?
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Solution
Let Vikram's investment be x.
Face value of 200 shares = Rs (25 x 200) = Rs 5,000
Dividend for 200 shares = 8 % of Rs 5,000 = Rs `(8 xx 5000)/100` = Rs 400
He gets Rs 400 as dividend which is equal to 10°/o of money invested
⇒ `(10 x)/100` = Rs 400
⇒ x = Rs 4000
Hence, Vikram invested Rs 4,000.
No. of shares bought by Vikram = 200
Value of a share = Rs `4000/200` = Rs 20
Vikram bought a share for Rs 20.
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